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Although the price of Ethereum (ETH) is bullish with excellent news, it continues to consolidate at the $ 460 level. It is known that the most important factor suppressing the ETH / USD trade pair is whether the amount of ETH required for the trade will be reached. transition to Ethereum 2.0. Starting tonight, great uncertainty will end for both Ethereum and Uniswap (UNI) investors.
Ethereum worth $ 1.1 billion to be released
In fact, the announcement that four Ethereum-based liquidity pools on the Uniswap exchange will be closed was made almost a week ago. It is known that more than 2 million ETH will be released with the closure of four pools. So about $ 1.1 billion worth of ETH will be released tonight. Some have voiced their concerns about this issue but also pointed out that this could actually be beneficial for both UNI and ETH.
Fidelitas Lex: It would not be surprising to see an increase in the staking amount of ETH 2.0
Fidelitas Lex, one of the first names that comes to mind when it comes to “DeFi”, explained his views on this development. According to Fidelitas Lex, with the end of this campaign, a significant increase in the share of ETH 2.0 and a decrease in sales pressure on UNI is likely.
According to data from Beaconcha.in, the amount of ETH staked for ETH 2.0 at press time is 96,032. Therefore 13,383 network validators are still missing (428,256 ETH). Considering that $ 1.1 billion worth of ETH will be released tonight, even just 20% of these funds can set everything right for ETH 2.0.
However, it is unknown whether investors will submit their ETH for this development. The likelihood that this development will reduce the sales pressure on UNI is quite strong. Investors were getting UNI for their cash-pooled funds. It is known that most of them are sold instantly. The end of this liquidity campaign could open the door to positive action for both UNI and ETH, as Fidelitas Lex said.
Many ETH investors have set their sights on this particular development, and even if the uncertainty ends on its own it will be a huge improvement.
